MNI Asian Morning FX Technical Analysis

11 August 2017

By Kyle Shortland

Click below for today's MNI FX Technical Analysis Report -

http://tinyurl.com/h8lzqnc

AUSSIE TECHS: $0.7838 & $0.7949 Levels Key

*RES 4: $0.7998 - Hourly resistance Aug 1 

*RES 3: $0.7979 - High Aug 4 

*RES 2: $0.7949 - High Aug 7 

*RES 1: $0.7919 - Hourly support Aug 8 now resistance

*PRICE: $0.7881 @ 2100GMT

*SUP 1: $0.7858 - Low Aug 9 

*SUP 2: $0.7838 - High July 17 now support 

*SUP 3: $0.7781 - Low July 17 

*SUP 4: $0.7749 - Hourly support July 14a

*COMMENTARY: The pair remains heavy with immediate bearish focus on the $0.7838

support. Overall a close below $0.7838 is needed to shift focus to

$0.7749-0.7781. Layers of resistance are adding weight to the bearish case with

bulls needing a close above $0.7949 to ease bearish pressure and above $0.7998

to shift focus initial focus back to $0.8044-65 where 2017 highs are located.

Daily studies have room to move before becoming O/S.

KIWI TECHS: Above 21-DMA To Shift focus higher

*RES 4: $0.7391 - Low July 21 now resistance 

*RES 3: $0.7377 - Hourly resistance Aug 7 

*RES 2: $0.7342 - Alternating hourly support/resistance 

*RES 1: $0.7298 - Hourly support Aug 10 now resistance

*PRICE: $0.7281 @ 2100GMT

*SUP 1: $0.7250 - Low July 17

*SUP 2: $0.7203 - Monthly Low July 11

*SUP 3: $0.7170 - Low June 7

*SUP 4: $0.7142 - 100-DMA

*COMMENTARY: The break and close below the daily bull channel base and 21-DMA

($0.7405) added weight to the bearish case with bears now needing a close below

$0.7250 to shift focus to $0.7115-0.7203 where 100 & 200-DMAs are situated. The

Bollinger base ($0.7264) and studies approaching O/S are key concerns for bears.

In saying that, bulls need a close above the 21-DMA to ease bearish pressure and

shift focus back to $0.7458-0.7577.

AUSSIE-KIWI TECHS: Supported Ahead Of 21-DMA

*RES 4: NZ$1.0966 - High Mar 31

*RES 3: NZ$1.0935 - Monthly High May 1

*RES 2: NZ$1.0882 - Low May 1 now resistance

*RES 1: NZ$1.0861 - High Aug 10

*PRICE: NZ$1.0823 @ 2100GMT

*SUP 1: NZ$1.0798 - Hourly support Aug 10

*SUP 2: NZ$1.0766 - Hourly support Aug 10a

*SUP 3: NZ$1.0747 - Hourly resistance Aug 10 now support

*SUP 4: NZ$1.0691 - Low Aug 10

*COMMENTARY: Despite initially looking heavy Thursday, the pair found support

ahead of the 21-DMA (NZ$1.0697) and daily bull channel base (NZ$1.0690) which

provided the catalyst for the rally to fresh 3mth highs. Bulls have regained the

upper hand with focus now on layers of resistance NZ$1.0882-1.1018 where monthly

and 2017 highs are noted. Bears now need a close below NZ$1.0798 to ease bullish

pressure and below NZ$1.0747 to shift focus back to the 21-DMA.

AUSSIE-YEN TECHS: Below Y85.69 Targets 100 & 200-DMAs

*RES 4: Y87.24 - Hourly support Aug 9a now resistance 

*RES 3: Y87.10 - High Aug 10 

*RES 2: Y86.78 - Hourly resistance Aug 10a 

*RES 1: Y86.30 - Hourly resistance Aug 10

*PRICE: Y86.02 @ 2100GMT

*SUP 1: Y85.77 - 55-DMA

*SUP 2: Y85.69 - Low July 5

*SUP 3: Y84.98 - 200-DMA

*SUP 4: Y84.74 - 100-DMA

*COMMENTARY: The break of the 21-DMA was followed up with a break and close

below the Y87.24 level that sees immediate bearish focus on Y85.69-77 where the

55-DMA is located. Daily studies approaching O/S and the Bollinger base (Y86.55)

are concerns for bears with potential to limit follow through. Layers of

resistance remain with bulls needing a close above Y86.30 to gain breathing room

and above Y87.24 to shift focus to Y88.01-03 where the 21-DMA is noted.

EURO-AUSSIE TECHS: Bulls Need Close Above A$1.4965 

*RES 4: A$1.5075 - High July 6

*RES 3: A$1.5033 - High July 11

*RES 2: A$1.5000 - Bollinger band top

*RES 1: A$1.4965 - High Aug 4

*PRICE: A$1.4951 @ 2100GMT

*SUP 1: A$1.4891 - Hourly support Aug 10 

*SUP 2: A$1.4844 - Daily Bull channel base 

*SUP 3: A$1.4818 - Hourly support Aug 2 

*SUP 4: A$1.4753 - 21-DMA

*COMMENTARY: Pressure on the bear channel top (A$1.4935) has taken its toll with

the close above providing bullish confidence a boost. Bulls continue to look for

a close above A$1.4965 to gain traction topside and confirm focus on

A$1.5033-1.5224 where monthly highs and the bull channel top are located.

Initial support is noted at A$1.4891 today with bears needing a close below to

ease immediate bullish pressure and shift focus back to A$1.4753-1.4844.

US DOLLAR-INDEX TECHS: Hesitating Ahead Of 21-DMA

*RES 4: 94.476 - Low July 18 now resistance 

*RES 3: 94.285 - High July 26 

*RES 2: 94.103 - High July 27 

*RES 1: 93.888 - High Aug 9

*PRICE: 93.403 @ 2130GMT

*SUP 1: 93.238 - Low Aug 8

*SUP 2: 93.061 - Hourly support Aug 4a

*SUP 3: 92.679 - Low Aug 3

*SUP 4: 92.548 - 2017 Low Aug 2

*COMMENTARY: Despite recovering from recent 2017 lows the move has stalled ahead

of the 21-DMA (93.883) with bulls now needing a close above 93.888 to confirm an

easing of bearish pressure and above 94.476 to target 95.167-661 where the

55-DMA is located. Layers of support remain with bears needing a close below

93.061 to reconfirm focus on 2017 lows and the 91.919-92.548 region where the

200-WMA & 2016 lows are situated.

EURO-DOLLAR TECHS: Remains Supported Ahead Of 21-DMA

*RES 4: $1.1909 2017 High Aug 2 

*RES 3: $1.1861 Hourly support Aug 3 now support 

*RES 2: $1.1824 High Aug 8 

*RES 1: $1.1802 Hourly support Aug 8 now resistance

*PRICE: $1.1772 @ 2030GMT

*SUP 1: $1.1747 Hourly support Aug 10 

*SUP 2: $1.1690 Low Aug 9 

*SUP 3: $1.1686 21-DMA 

*SUP 4: $1.1671 Low July 28

*COMMENTARY: Bulls take comfort in support continuing to emerge on dips back

towards the 21-DMA. The $1.1824 resistance is now key with bulls needing a close

above to hint at a retest of 2017 highs and ten the bull channel top ($1.1968).

Bears now look for a close below the 21-DMA to add further weight to their case

for a move that initially targets $1.1583-1.1648. Below $1.1583 is needed to

shift focus to $1.1373-1.1480 where the 55-DMA ($1.1428) is located.

DOLLAR-YEN TECHS: Above Y110.25 To Shift Focus Higher

*RES 4: Y110.82 High Aug 8 

*RES 3: Y110.59 Hourly resistance Aug 8 

*RES 2: Y110.25 Low Aug 8 now resistance 

*RES 1: Y109.58 Low Aug 9 now resistance

*PRICE: Y109.23 @ 2030GMT

*SUP 1: Y108.81 Monthly Low June 14 

*SUP 2: Y108.10 2017 Low Apr 17 

*SUP 3: Y106.95 High Nov 10 now support 

*SUP 4: Y104.91 Low Nov 10

*COMMENTARY: The Y110.25 resistance confirmed significance with the pair

remaining capped ahead of this level resulting in fresh 2mth lows and bears

focused on Y108.10-81 where 2017 lows are noted. The Bollinger base (Y109.17) is

the key concern for bears. Layers of resistance are building and weighing on the

pair with bulls needing a close above Y109.58 to gain breathing room and above

Y110.25 to shift focus back to Y111.05-41 where key DMAs are noted.

SPOT GOLD TECHS: Focus Shifts to 2017 High, $1270.0 Support Key

*RES 4: $1337.4 - Monthly High Nov 9 

*RES 3: $1295.9 - 2017 High June 6 

*RES 2: $1291.0 - Daily Bull channel top 

*RES 1: $1287.2 - Bollinger band top

*PRICE: $1285.5 @ 2130GMT

*SUP 1: $1283.5 - Hourly support Aug 10 

*SUP 2: $1280.8 - High June 14 now support 

*SUP 3: $1277.7 - Hourly support Aug 10a 

*SUP 4: $1270.0 - Hourly support Aug 9

*COMMENTARY: Support emerging ahead of the 21-DMA Tuesday has provided the base

for a move that has taken out $1280.8 with immediate focus now on 2017 highs.

Layers of support continue to build with bears needing a close below $1270.0 to

confirm an easing of bullish pressure and to shift focus back to $1253.3-1256.6

where key DMAs and the daily bull channel base are situated.

--MNI Beijing Bureau; tel: +44 207-862-7435; email: kyle.shortland@mni-news.com

[TOPICS: MTABLE]